This month you are going to see me start taking a more serious look
at classic cars. My Classic Car Watch column is going to try and look at
cars with a lot more scrutiny than in the past. Why? Because I am going
to start looking for a classic car this summer.

I have a side project that is going to allow me to have flexibility that
I have not had in a lot of years. It is hard to say how much I will make
with this side job, but I am hoping to get a classic.

I know I should pay off my old debt. I will indeed pay off my credit
card. But I am considering leaving my current debt consolidation loan
where it is and using the money to get a classic car.

A couple of things have to happen first. I live in an apartment. My
apartment complex has garages. I will have to get a garage. This will
increase my rent. I have to prepare my budget to include the garage. Old
cars are far too easy to steal. I need the garage and I believe my
budget will be able to handle the garage by the end of Spring.

Next is my oldest son. He is going to be a senior in High School next
year. He is going to need a car. OK. Need is a pretty strong word. But
the reality is he will need one... especially if he is going to start
working a part time job.

I am planning on buying a inexpensive used 4 door sedan for him. I will
keep the car in my name. This will afford me the ability to do what I
want with my current car, a 2004 Mini Cooper S. I love the Mini Cooper,
but it is getting too small for two teenaged boys to ride in. And it is
impractical for a long drive... even to Austin... for the three of us.

If I buy my son a sedan, then when I need a 4 door I will use it. I
will mostly need a 4 door when he is with me anyway. This opens the door
for me to trade in my Mini Cooper for a sports car. I cannot afford
a larger car payment, so that means I would be looking at a Miata.

I already have $4,000 saved for a sedan. I have seen few cars at that
price I would buy. But we are getting close. I figure somewhere between
$6,000 and $8,000 should be about right.

This is all possible this summer. The classic is the issue. The more I
spend on a classic the nicer a car I can get. I have seen some cars on
the Internet under $10,000. But this was not in person. I don't know if
a Corvair for $8,600 will stand up to scrutiny with an in person
inspection.

I have also seem some nice cars in the low $20K range. This is going to
be pushing my luck. If the job pays this much it would be nice. But do I
really want to put that much money into a car. Granted, I would be
careful to buy a car that will at least maintain its value, so I could
sell it should the need arise.... like for college expenses.

In this month's Classic Car watch I list a Corvair for $8,600. I am
very tempted to look at it in person. But I also saw a 71 Corvette for
$18K, which tells me to save longer for a better car. Maybe I should stay in the
middle and find a nice Mustang.

Over the next few months expect the cars in my Classic Car Watch column
to take on a more serious tone... as I look at each car with the intent
to at least call about it.

And expect me to tell you what I end up doing for my son and myself
so there is enough practical transportation to support our needs.